Amazon.com $AMZN has been recovering sharply since tagging $1300 per share in late December. On the daily chart below we can see that price came close to a rising trendline and was in a previous support area before making the sharp rebound. The rally drove price up to $1700 before AMZN stalled and started topping. We should brace ourselves for another bearish swing.AMZN Daily Chart(click to enlarge)Resistance:- On the daily chart, we can see that price respected the resistance under $1800 a couple of times in late 2018. - This time around, price only came up to a tad above $1700. This time, price held under the 200-day simple moving average (SMA). - Since respecting the resistance here, we are already seeing a lower high and about to see a lower low if price falls below $1615. - A close below $1600 would therefore be a strong bearish signal, because it would confirm respect for the 200-day SMA as resistance.- Furthermore, the RSI is holding below 60, which reflects maintenance of the prevailing bearish momentum.- A reach back to $1400-$1430 area is in sight.- There is also the possibility of price pushing towards the $1300 area, deeper in the support zone tested in December, and likely to challenge a rising trendline. This scenario would be in line with the current pattern of lower key lows since September of 2018. Head and Shoulders on the Intra-day Chart:- In the very short-term and looking at the 1H chart below, we can spot a head and shoulders pattern with a neckline around $1600.- This pattern is relevant to the prevailing rally since late December. It is therefore signaling a potential reversal of this rally. - As we noted above, a break below the neckline of $1600 would open up a potential bearish swing towards $1400, and possibly $1300 if the current pattern of lower lows continue.- Note that the RSI in the 1H chart is reflecting a shift to the bearish momentum. Perhaps, this very short-term bearish reversal will translate into the medium-term bearish projection we noted above. AMZN 1H Chart(click to enlarge)